Financial Sector

Even though it has a one-year opportunity to keep the Shriram identity, the company will adopt a new brand name.

The company's cash position increased by ₹259 Crore year on year to ₹5,263 Crore, while core online sales increased by 39% to ₹2,375 Crore.

While the Reserve Bank of India's (RBI) master directions for NBFCs include criteria for lending against shares of public businesses, they remain quiet on unlisted stocks.

The proposal involves capitalizing reserves, potentially leading to an increase in the Company's Authorized Share Capital, pending requisite approvals.

This final payment brings the total payout for fiscal year 2023-24 to ₹16.50 per equity share, including the interim dividend of ₹5.50.

Mahindra Finance stated that a scam was discovered at one of the company's locations in the northeast, near end of Q4.

In June of last year, both the companies formed a joint venture in India, where they equally contributed $150 million each to offer asset management services.

The Gurugram-based firm posted a profit after tax of ₹37 Crore for the December quarter of FY24.

L&T Finance is a renowned NBFC, delivering a range of financial products and services under the L&T Finance name.

The minimum public shareholding requirement requires all listed firms to guarantee that non-promoters control at least 25% of their equity shares.